I have seen many videos of "day in the life" and this is the only one that actually explains what an accountant does.. as always, excellent content, great channel and high quality detailed explanations.
@@TheFinancialController Yes, thank you. Not once did we see you put on make up, eat lunch or take a dog for a walk like all the other "Day in the Life of" videos.
Totally agree, literally every other day in the life of is eating, shower... 5 min talk about work, then the rest. Like bruh I do that LMAO. @The Financial Controller, definitely one of the most competent finance professionals I've encountered in my life. Definitely subbed and love your videos on Enron
I appreciate all of my accountants since they are the ones doing all the work. Hard work always pays off. I am now a CFO and it is more exciting to be more involved with the CEO about future projects.
I really like your videos. It just gives me more knowledge and confidence about the accounting tasks I carry out as a Senior Accountant. Also, the last part that you talked about the tasks that you dislike are Taxes and Audit. I feel the same about taxes. Thanks for this video!
Ahh, so that's what accountants do. Thanks, dude. I certainly feel comfortable working with a lot of that, and I'm only a sophomore in school. Thanks. Very descriptive.
I do all tasks that you mentioned except the financial control and analysis parts which are currently done by FP&A team. Besides this, I do also a bit of VAT return and Transfer Pricing documentation. I do wish to be involved more in finance analysis comparing actual and budget in the future. Great video in every aspect of accountant's life 👍
watched this video a dozen of times as it motivates me, this video summarizes the daily chores of an accountant, yes you will need a lot of coffee if you are going for accounting !!!
Hello! I’m a second grade bilingual teacher. I’m planning on enrolling for my master in science for accounting since the are providing opportunities for non trad students to apply who don’t have accounting as a bachelor. This has given so much insight and information and completely encourages me to continue with the process! Thank you!
Elide, No disrespect, but you should pursue something else. People like you reduce the credibility of the accounting profession. There are accountants who have studied accounting on a bachelor level and struggle daily with debits and credits. Now, you want to get an MS in accounting with no background in accounting.. Good luck with that.
Currently in my second year of accounting and finance bachelor's degree. Can't lie, I find this quite exciting and interesting. Some people might call me boring or morbid because of this lol
Hello Arbaz, I am a freshman in college thinking of switching from nursing to accounting. Is it true that I have to be a math wiz in order for me to pass accounting class?I like working with numbers and finding solutions its just that some teachers dont teach the way i would want them to teach me.
@@ebony203 not at all. it's literally just plus, minus, division and multiplication. most of it is about logical reasoning and learning a lot of accounting rules to. honestly anyone can do it if you have the discipline to study a lot!
Hi Bill, You are doing a great job. Just wondering if you have made a video on Forecast vs. Budget. If not, would appreciate one on different aspects of Forecast vs. Budget. Thank you!
Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!
I work as an accounts payable specialist but wanted to move into a bugger role with higher pay and thought about getting my masters in accounting. Not sure if it's the best choice
While I would say, I am amazed by your work. I am looking forward to learning more and advice your video to my friends. I have only one question which is about, what advice you would give someone who is doing account to determine whether this career would be good or not
Thanks for sharing Is the Fica,Futa and Suta one of the seasonal cycle tasks ? In an accounting assistant Position first day can you ask to review the balance sheet or have access to the financial stmts? Your explanation is captivating.
Fica, suta, etc these are part of payroll taxes that we report twice a month. They are relatively easy because most payroll services (ADP for example) handles it automatically. Reviewing balance sheet or any statement is an advanced function and only when you are more senior typically 5-6 years into the career.
I'm going to graduate from a master of accountancy program(online), but I have zero knowledge of what accountants really do on a daily basis. Your videos are really helpful and useful! Thanks for covering the great topics.
If someone working in US LLC as an Accountant, can he understand how its tax returns are going to prepared? (Assuming he/she pursuing business taxation)
very well said (and interesting), i was wondering how much times did it take to you to start to be relevant in your kpi/ financial statement analysis? did you study how to do that with books or is it coming with practice?
Please my teacher I need your help I study in university finance and accounting it's my second year ( bachelor) the problem is my studies are in Arabic . I'm from Algeria by the way I'm really interested to change them in English at home. What you can suggest to me please? Reading books . Online courses. . .. . ? What's the best solution
I wouldn’t recommend books, simply because TH-cam alone is filled with the equivalent of volumes of books and in a visual manner. Be sure to search for the topics you study in school on TH-cam and organize the videos in playlists for easy learning. Secondly I would recommend practical experience. During my last 2 years in college I worked as an accountant at a local cpa firm. Best of luck
Accounts Payable is a balance sheet account. It’s generated when businesses are on the “accrual” basis (as opposed to the “cash” basis). Basically you “say” you incurred an expense but haven’t actually paid the cash yet. So example, you get a utilities bill for May, and you want to close out May’s month. Utilities expense goes to the income statement for May, and the “other side” of it, is the corresponding Accounts Payable on the balance sheet.
Part 2: Now it’s first week of June and you want to actually send the cash to the utilities company to settle the bill. Since you already recorded the expense in May, you don’t record the expense AGAIN. Instead, you just send the cash and DECREASE the Accounts Payable for the same amount. So overall, accrual basis accounting shows up as a two-step process.
@@TheFinancialController is a MBA in Accounting better then a Masters in Accounting ? I feel like it gives you a more well rounded understanding of the business aspects instead of just 1 area and can get the same job as the accountant. I was thinking of getting MBA Accounting and obtaining the CPA. Im just confused on why people get masters in accounting if the mba accounting can do the same thing and more ???
Sir i have commented first time and hope so u will reply took....actually i m persuing masters in accouting and finance basically MSC A&F.....and now its 3rd semester and we have to chose between accounting or finance as a specialization ...what would u suggest i should chose .....i am not sure that will be able to do any professional certificates like ACCA, CPA ,OR CA or not coz soon i m going to get married but also i wantt to secure my career.....so can u suggest whats in demand and wht should i do along side to make my future more secure
Choose accounting if you plan on getting certified. Chose finance if you don’t. Because in accounting you won’t get very far without a license. My recommendation thou is Accounting and getting certified. I did it while married and 2 kids :)
@@TheFinancialController thank you sir for your reply and time....actually being a girl and from asian country getting certified after marriage is risky kind of 50 50....so if i get into finance and later on get certified is it will be possible ....??
@@TheFinancialController actually my university offers me exmeptions in Acca , cima uk , ca uk and ca pak 8 to 13 pprz.....inspite of whatever i chose whether it be accounting or finance.....if i would be able to pursue any of these i will surely....but if i wont so for that time i m confused wht to chose
@@TheFinancialController thankyou sir for guiding me at that time , today I am doin professional exams of ACCA , and after this I am planning to pursue ICAEW , what do you suggest should I pursue after ACCA as this fields has many competitions at the moment in job sector
I have seen many videos of "day in the life" and this is the only one that actually explains what an accountant does.. as always, excellent content, great channel and high quality detailed explanations.
Thanks Leo!
@@TheFinancialController Yes, thank you. Not once did we see you put on make up, eat lunch or take a dog for a walk like all the other "Day in the Life of" videos.
Totally agree, literally every other day in the life of is eating, shower... 5 min talk about work, then the rest. Like bruh I do that LMAO. @The Financial Controller, definitely one of the most competent finance professionals I've encountered in my life. Definitely subbed and love your videos on Enron
th-cam.com/video/Oy7wQLlkN1A/w-d-xo.html
Yup! Not a stupid thing like making their coffee and recommending products. That's not what I click for.
I'm an accountant, I enjoy youtube videos. When I practice my English I like your explanations about accounting topics.
Thanks Laura!
I appreciate all of my accountants since they are the ones doing all the work. Hard work always pays off. I am now a CFO and it is more exciting to be more involved with the CEO about future projects.
Hard work does not always pay off.
A great reoresentation of what accounting in real life is about. I liked it very much. Thank you.
Glad you liked it!
this vid is straight to the point...sharp, concise and informative
You have very good contents. Keep up the good work. I enjoy learning when it comes to my profession and you make it easy to understand.
Thanks Mai! Keep growing:)
Thank you. Doesn't sound as boring as people think!
I really like your videos. It just gives me more knowledge and confidence about the accounting tasks I carry out as a Senior Accountant. Also, the last part that you talked about the tasks that you dislike are Taxes and Audit. I feel the same about taxes. Thanks for this video!
I like your honesty about not liking tax because you don’t feel confident in it. Very relatable!
Haha yeah leaving that to the experts for sure
Ahh, so that's what accountants do. Thanks, dude. I certainly feel comfortable working with a lot of that, and I'm only a sophomore in school. Thanks. Very descriptive.
I do all tasks that you mentioned except the financial control and analysis parts which are currently done by FP&A team. Besides this, I do also a bit of VAT return and Transfer Pricing documentation. I do wish to be involved more in finance analysis comparing actual and budget in the future. Great video in every aspect of accountant's life 👍
Thanks Lea
watched this video a dozen of times as it motivates me, this video summarizes the daily chores of an accountant, yes you will need a lot of coffee if you are going for accounting !!!
haha thanks Arslan!
I just discovered this channel and am amazed at the content quality.
Definitely best day in life video I’ve seen ❤ great content
Glad you enjoyed it!
Glad I found this channel. I'm learning a lot from you. Thank you.
Thanks MJ
I’m trying to get a job and this is exactly the type of video I was looking for. Thank you.
Love your channel, getting my accounting degree right now. Very well done!!
you are the life saver of my monthly closing balance. Thank you
Hello! I’m a second grade bilingual teacher. I’m planning on enrolling for my master in science for accounting since the are providing opportunities for non trad students to apply who don’t have accounting as a bachelor. This has given so much insight and information and completely encourages me to continue with the process! Thank you!
Best of luck!
Elide, No disrespect, but you should pursue something else. People like you reduce the credibility of the accounting profession. There are accountants who have studied accounting on a bachelor level and struggle daily with debits and credits. Now, you want to get an MS in accounting with no background in accounting.. Good luck with that.
@@marvelouss719 How many accounting courses have you taken as an undergraduate with a Bachelors in Accounting - do you remember?
@@mrfoshobroful I have 36 undergraduate hours and 9 graduate--15 courses. I took upper level electives.
@@marvelouss719 tell that to University of North Dakota that offers a Master's in Accountancy for non-accounting bachelor's degrees.
Great video. As an accountant myself, I can tell you I hate the audit season
Thanks for the video! You’re making me want to study accounting!
That’s great Jessica
Did you ever get into accounting?
Kindly sir, could u post a video explaining the Accrual concept ?
Ok will do :)
Thank you for this video! I want to go back to school, considering accounting. This is a very informative video
Glad it was helpful!
Currently in my second year of accounting and finance bachelor's degree. Can't lie, I find this quite exciting and interesting. Some people might call me boring or morbid because of this lol
Haha great!
Hello Arbaz, I am a freshman in college thinking of switching from nursing to accounting. Is it true that I have to be a math wiz in order for me to pass accounting class?I like working with numbers and finding solutions its just that some teachers dont teach the way i would want them to teach me.
@@ebony203 not at all. it's literally just plus, minus, division and multiplication. most of it is about logical reasoning and learning a lot of accounting rules to. honestly anyone can do it if you have the discipline to study a lot!
Hi Bill, You are doing a great job. Just wondering if you have made a video on Forecast vs. Budget. If not, would appreciate one on different aspects of Forecast vs. Budget. Thank you!
Great suggestion!
Thank you for this great video. You have the gift of explaining in detail all the topics you manage in your videos. :)
Thanks Ana
This is the most relevant video on this topic. Thank you Sir.
I love your videos. They are very informative. Thank you.
Thanks 🙏
What a lovely presentation Mr. Bill. I became your big fan. ❤️
Thank you for this explanation,it's very detailed and super interesting
Good video - liked your honesty about the days you find it difficult to get up!
Glad you enjoyed it
Thanks for the video it was awesome and esliye to understand everything once again thanks and Namaste 🙏
Hi Bill, I am new to accounting and can you explain the process of the month end close?
Sure will make a video on financial month close.
Can u please make a video on month-end entries activities in Record to Report domain or Please make a complete video on Record to report. Thank u
Sure will do
Hi sir your videos are amazing...thank you so much for all your tutorials
Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!
Hello Sir, which sites can you recommend for an African (Kenyan) looking for a remote accounting opportunity?? How does it work??
TIA
Do you recommend to work in audit, before working as an Accountant? For me the profession sounds very interesting, thank you for your video!
Yes I do!
You're amazing, I am currently a staff accountant and thinking about growing my career and having a side TH-cam channel, inspiring!! :)
Thank u sir…U become great mentor for me on TH-cam!
This video was very insightful! Thanks so much!
Good video. Informative and concise.
Very informative video. I'm currently doing an Accounts Technician course and this really pulls it all together. I got a lot out if it 👍 Thanks
Shouldn't you submit your payroll taxes quarterly?
I work as an accounts payable specialist but wanted to move into a bugger role with higher pay and thought about getting my masters in accounting. Not sure if it's the best choice
Excellent lesson, thank you
You are welcome!
While I would say, I am amazed by your work. I am looking forward to learning more and advice your video to my friends. I have only one question which is about, what advice you would give someone who is doing account to determine whether this career would be good or not
i would like to ask you a questionon how i can do an entry of debtors and creditors while using kpi accounting software
Great video to enhance knowledge
Thanks for watching
Thank you for sharing ❤❤❤❤
Outstanding material keep it going
Thanks for sharing
Is the Fica,Futa and Suta one of the seasonal cycle tasks ?
In an accounting assistant Position first day can you ask to review the balance sheet or have access to the financial stmts? Your explanation is captivating.
Fica, suta, etc these are part of payroll taxes that we report twice a month. They are relatively easy because most payroll services (ADP for example) handles it automatically.
Reviewing balance sheet or any statement is an advanced function and only when you are more senior typically 5-6 years into the career.
Thanks!
You are the best
very useful information. Thank you
Thanks!
Fantastic presentation…!
Thank you for sharing
You are welcome 🙏
Great video! Do you have one for Big 4 Audit?
Soon
I'm going to graduate from a master of accountancy program(online), but I have zero knowledge of what accountants really do on a daily basis. Your videos are really helpful and useful! Thanks for covering the great topics.
Best of luck jade
Great! Thanks. I suscribe 😁
If someone working in US LLC as an Accountant, can he understand how its tax returns are going to prepared? (Assuming he/she pursuing business taxation)
NICE VIDEO SIR,THANK YOU
Did you get a bachelors or were you still able to accomplish what you have with an associates degree?
Do you recommend taking a major in accounting and a minor in CS? is CS useful in the accountant career? Thank you so much for the video.
Yes CS is helpful for accounting major
@@TheFinancialController Thanks for replying!
Bravo 👏
curious about how many hours a week an account works on average
very well said (and interesting), i was wondering how much times did it take to you to start to be relevant in your kpi/ financial statement analysis? did you study how to do that with books or is it coming with practice?
Mostly practice, and some of it researching online (google) plus watching a couple of online courses such as the one mentioned in 9:50 in video.
Best
Nice video Sir , very useful
How many hrs of work in a day , month n season ? In a life of cpa
Please my teacher I need your help
I study in university finance and accounting it's my second year ( bachelor) the problem is my studies are in Arabic . I'm from Algeria by the way
I'm really interested to change them in English at home. What you can suggest to me please? Reading books . Online courses. . .. . ? What's the best solution
I wouldn’t recommend books, simply because TH-cam alone is filled with the equivalent of volumes of books and in a visual manner. Be sure to search for the topics you study in school on TH-cam and organize the videos in playlists for easy learning. Secondly I would recommend practical experience. During my last 2 years in college I worked as an accountant at a local cpa firm. Best of luck
@@TheFinancialController
Thanks my teacher ❤
Very useful video 👍🏻
Thanks Alfiya
Accounts payable goes on the income statement?
Accounts Payable is a balance sheet account. It’s generated when businesses are on the “accrual” basis (as opposed to the “cash” basis). Basically you “say” you incurred an expense but haven’t actually paid the cash yet. So example, you get a utilities bill for May, and you want to close out May’s month. Utilities expense goes to the income statement for May, and the “other side” of it, is the corresponding Accounts Payable on the balance sheet.
Part 2: Now it’s first week of June and you want to actually send the cash to the utilities company to settle the bill. Since you already recorded the expense in May, you don’t record the expense AGAIN. Instead, you just send the cash and DECREASE the Accounts Payable for the same amount. So overall, accrual basis accounting shows up as a two-step process.
How is the work-life balance ?
Pretty decent actually
@@TheFinancialController is a MBA in Accounting better then a Masters in Accounting ? I feel like it gives you a more well rounded understanding of the business aspects instead of just 1 area and can get the same job as the accountant. I was thinking of getting MBA Accounting and obtaining the CPA. Im just confused on why people get masters in accounting if the mba accounting can do the same thing and more ???
Sir i have commented first time and hope so u will reply took....actually i m persuing masters in accouting and finance basically MSC A&F.....and now its 3rd semester and we have to chose between accounting or finance as a specialization ...what would u suggest i should chose .....i am not sure that will be able to do any professional certificates like ACCA, CPA ,OR CA or not coz soon i m going to get married but also i wantt to secure my career.....so can u suggest whats in demand and wht should i do along side to make my future more secure
Choose accounting if you plan on getting certified. Chose finance if you don’t. Because in accounting you won’t get very far without a license. My recommendation thou is Accounting and getting certified. I did it while married and 2 kids :)
@@TheFinancialController thank you sir for your reply and time....actually being a girl and from asian country getting certified after marriage is risky kind of 50 50....so if i get into finance and later on get certified is it will be possible ....??
@@TheFinancialController actually my university offers me exmeptions in Acca , cima uk , ca uk and ca pak 8 to 13 pprz.....inspite of whatever i chose whether it be accounting or finance.....if i would be able to pursue any of these i will surely....but if i wont so for that time i m confused wht to chose
samia nasir there is more security in accounting jobs than finance. I am a firm believer in accounting as a solid skill/trade more than finance
@@TheFinancialController thankyou sir for guiding me at that time , today I am doin professional exams of ACCA , and after this I am planning to pursue ICAEW , what do you suggest should I pursue after ACCA as this fields has many competitions at the moment in job sector
I’m going to college for my accounting degree
This is our everyday duty.. hehe
Lol
No prepayments 😉
so this seems like its daily organizing
The life of an accountant is boring.